On July 23, Hong Kong paper stocks surged during the trading session, with Nine Dragons Paper rising nearly 9%, Lee & Man Paper increasing by mearly 7%, and Chenming Paper as well as Sunshine Paper also following suit.

Recently, ND PAPER announced another price hike of 30 yuan/ton. This is the company's third price hike letter since July 1 and July 10, with the reason still being "increased operating costs." Chongqing ND PAPER will increase the price of corrugated paper by 30 yuan/ton from July 18, Dongguan ND PAPER will increase the price of recycled linerboard by 30 yuan/ton from July 23, and Tianjin/Hebei ND PAPER will hike the price of recycled linerboard by 30 yuan/ton from July 23. Additionally, Taicang ND PAPER, Quanzhou ND PAPER will increase the price of recycled linerboard by 30 yuan/ton from July 23, and Leshan ND PAPER will raise the price of corrugated paper by 30 yuan/ton from July 22.

Apart from ND PAPER, another leading company in the packaging paper industry, Shanying International, also issued a price hike letter stating that to alleviate the operational pressure brought about by increased costs, from July 24, bases in Zhejiang/Anhui/Central China/Guangdong will increase the price of T-paper by 30 yuan/ton, and the base in Fujian will increase the price of Redwood II by 30 yuan/ton.